Transatlantique Private Wealth LLC Has $345,000 Stake in PACCAR Inc (NASDAQ:PCAR)

Transatlantique Private Wealth LLC reduced its position in PACCAR Inc (NASDAQ:PCAR) by 57.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,347 shares of the company’s stock after selling 4,503 shares during the quarter. Transatlantique Private Wealth LLC’s holdings in PACCAR were worth $345,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its stake in PACCAR by 4.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after acquiring an additional 27,963 shares during the last quarter. BDF Gestion acquired a new position in shares of PACCAR during the 2nd quarter worth $2,862,000. California State Teachers Retirement System lifted its position in shares of PACCAR by 1.2% during the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after buying an additional 9,978 shares during the last quarter. Advisory Services Network LLC boosted its stake in PACCAR by 15.9% in the first quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock valued at $6,944,000 after buying an additional 7,678 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in PACCAR by 18.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after acquiring an additional 105,109 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on PCAR shares. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Truist Financial cut their target price on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Raymond James initiated coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Evercore ISI dropped their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Citigroup reduced their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, PACCAR has an average rating of “Hold” and a consensus price target of $112.73.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.6 %

Shares of PCAR stock opened at $98.91 on Friday. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The stock has a market cap of $51.85 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 1.48 and a beta of 0.91. The stock has a 50-day moving average of $96.95 and a 200-day moving average of $106.20.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 EPS. On average, equities research analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.21%. PACCAR’s payout ratio is 12.45%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.